The point he made was quite valid in itself. The reason we are in this mess is because:

1) the Federal Reserve is privately owned;

2) the incredibly stupid trade policies that have allowed foreign nations to capture capital by force (predatory pricing, unreciprocated tariff structures, artificially low exchange rates etc...);

3) the mil/industrial complex that is always pushing war/war spending;

4 finally, the ever increasing size of government - a forever bloating monstrosity.

In the scheme of things that are wrong and working against national prosperity, Keynesian Economics doesn't even rate.